Raydiant’s New Consumer Behavior Report Highlights the Importance of Retailers Creating In-Store Experiences

Digital signage and in-store experience solutions provider Raydiant has released the findings from their State of Consumer Behavior Report 2020.

The report surveyed 1,000 US consumers on Jan. 19, 2020 with a goal of better understanding the evolving habits, preferences, and behaviors of consumers shopping both online and offline.

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Bobby Marhamat, CEO of Raydiant said: “The findings confirm our belief that brick and mortar is not dying, it’s simply evolving and that the retailers who are focused on creating true in-store experiences are positioned to thrive as the retail landscape continues to evolve.”

Key Findings:

• 68.9% of respondents said a good in-store experience is either important or very important to them.
• Price remains king, but experiences provide differentiation. While 56.6% of respondents said they would shop more at physical locations for exclusive discounts not available online, 22.8% said they would shop more if store owners provided unique experiences.
• Of respondents aged 18 to 34, 55% prefer to shop online, while 57.5% of those over 35 prefer to shop at physical locations.
• People who prefer to shop at physical locations name the ability to see and touch products as their primary differentiator (40.3%), followed closely by an enjoyable shopping experience (38.4%).

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• For men, the shopping experience (44%) is more important than the ability to see and touch products (23.4%). Women feel differently, with 45.7% prioritizing the physical presence of products and 34.6% preferring the experience.
• People of all ages who prefer shopping online name convenience as their primary motivator. For young people, access to discount codes came second at 23.3%, while older shoppers enjoy the ease of price comparison (11.2%) and transaction speed (10.9%).
• The omnichannel experience is critical, especially regarding price comparisons. More than 68% of respondents had searched for a better price online after finding a product at a physical store.
• Most people appreciate human customer service reps, with 62.4% finding store associates helpful.

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